First Reserve partially exits former Halliburton firm

First Reserve, a US private equity firm that raised a record dedicated energy fund last year, is selling part of an energy infrastructure company while keeping a stake in the new investment group.

Last year First Reserve raised $7.8bn (€6.1bn) for its eleventh buyout fund, which was more than three times bigger than its previous fund, and almost tripled its total money under management. Strong investor demand helped the firm increase...